Enphase Energy (ENPH) PT Raised to $225 at Oppenheimer After Reporting Blowout EPS
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Oppenheimer analyst Colin Rusch raised the price target on Enphase Energy (NASDAQ: ENPH) to $225.00 (from $116.00) while maintaining a Outperform rating after the company reported 4Q20 revenue of $264.8M vs. consensus' $254.5M. Non-GAAP EPS was $0.51, GAAP EPS was $0.50, vs. Street estimates of $0.41 and $0.28.
The analyst stated "we believe the debate on shares will now turn to ENPH's ability to scale revenue and ongoing margin capture as it integrates recently acquired software offerings, targets increased market share. We are encouraged to hear the company is working on GaN technology for its IQ9 platform to reduce cost as well as working on educating customers and owners on valuing its microgrid functionality. We continue to see ENPH as having substantial IP differentiation, driving technology cycles in advance of competition, and growing aggressively into an expanding TAM".
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